Assistant Vice President, Procurement

Job information

• Functional title – Assistant Vice President, Procurement
• Department – Procurement
• Corporate level – Assistant Vice President
• Report to – Director, Procurement
• Location – London

What you will be doing

CLS recognizes procurement capability has a huge potential to contribute to cost management capability as well as improving the value from our vendors. This role is to develop CLS’s Procurement capability, moving it from a tactical requisition-based engagement model to a function supporting strategic vendor-based decisions.  

The Assistant Vice President is to embrace the Procurement vision, supporting the day-to-day business activities for all procurement aspects of CLS’s vendor engagements, across all divisions globally - ensuring appropriate levels of risk control, appreciation of business drivers, optimization of costs, and strong negotiation of contractual terms, whilst maintaining exemplary standards of quality and collaboration both with vendors and stakeholders alike.

The Assistant Vice President defines and implements the strategy of the relevant category, whilst driving sourcing initiatives as required, whether it is for operational, or project related work as required.  The Assistant Vice President promotes and works within the agreed Third-Party Management Framework (TPM) and is a strong advocate for the Procurement Team procedures, while promoting value-add that will assist CLS to meet its targets.

• Research and identify innovative procurement solutions for assigned category or initiative
• Develop category strategy plans, including road map and stakeholder mapping
• Develop effective relationships with internal stakeholders that support the Procurement strategy
• Develop effective relationships with 3rd Parties, adhering to emerging SRM framework
• Lead and communicate with cross-functional teams to execute strategy and drive performance
• Raise and maintain Procurement Profile internally and externally
• Conduct strategic sourcing initiatives including fact-based negotiations (vendor and industry analysis, benchmarks and cost structure analysis)
• Negotiate commercials and contract terms with support of legal and Risk Domains (internal SME’s)
• Mitigate risks (eg contractual risk) and work with the internal stakeholders to ensure they understand and ultimately own the risks not mitigated
• Ensure each treatment strategy of the vendor, used for on-going monitoring, is adequately contracted and communicated to the relevant service owner and vendor relationship owner
• Support vendors’ exit strategy

Operational:

• Ability to deal with day-to-day admin tasks and compliance activities
• Ensure sourcing and category initiatives meet the top corporate objectives of the organization
• Report and track benefits and performance of implemented category plans
• Lead and support the business to utilize the P2P (Purchase to Pay) system to ensure compliance with financial standards
• Improve TPM Lifecycle through a series of enhancements
• Support the remediation of any Procurement findings derived from either Internal Audit or FRBNY examinations

Talent Nurturing and Team Management:

• Lead by example
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across CLS
• Ability to use strong interpersonal and leadership skills, to effective coach, assist others with personal development, while being emotionally resilient and able to maintain high performance

What we’re looking for

Knowledge:

• Has a good understanding of Procurement with previous category management experience
• Process improvement and change management skillset
• Procurement in-depth knowledge
• Contract Law and legal expertise relevant to Procurement activities
• Experience of applying Procurement skills and techniques to positively disrupt business strategy and outcomes.
• Proven track record in taking ownership for resolving issues within Procurement environment.
• Excellent Stakeholder management skills with the ability to build and maintain complex and multiple business stakeholder relationships.
• Ability to coach your peers on new processes
• Proven experience of formulating and delivering strategic Category Plans

Skills and Abilities:

• Commercial acumen
• Risk management mindset
• Strong stakeholder management skills
• Strong negotiation skills
• Ability to clearly articulate and communicate
• Strong decision-making attributes
• Delivery of commercial deals
• Delivery of process improvement/ process optimization initiatives
• Problem solving
• Analytical mindset
• Ability to interpret a range of differing priorities

Success factors / ‘How’. Personal characteristics contributing to an individual’s ability to excel in the position:

• Customer satisfaction at the forefront
• Team player with the ability to work constructively and flexibly in a regulated environment - including assisting in tasks which are not necessarily within their immediate responsibility when required.
• Strong collaboration and influencing skills with all stakeholders.
• Category plans that deliver savings & improvements
• Flexible and willing to ‘go the extra mile’.
• Proactive individual with a ‘can do’ attitude

Professional qualifications / certifications:

• Undergraduate Degree/CIPS accreditation desirable

Experience:

• Minimum 5 years plus in similar role
• Degree and Procurement certification achieved (i.e. CIPS)
• Experience in working in a regulated environment.
• Strong vendor risk management experience.
• Experience working for an FMI (Financial Market Infrastructure) is helpful